Victorian Current Acts

OFFSHORE PETROLEUM AND GREENHOUSE GAS STORAGE ACT 2010 - SECT 357

S. 357(1) substituted by No. 26/2021 s. 28.

    (1)     This section applies if—

        (a)     a petroleum retention lease is in force; and

        (b)     one or more identified greenhouse gas storage formations are wholly situated in the lease area.

S. 357(1A) inserted by No. 26/2021 s. 28.

    (1A)     If     —

        (a)     a single identified greenhouse gas storage formation extends to—

              (i)     only one block in the lease area; or

              (ii)     2 or more blocks in the lease area; and

        (b)     none of the following is in force over the block or blocks to which the identified greenhouse gas storage formation extends—

              (i)     a greenhouse gas injection licence;

              (ii)     a greenhouse gas holding lease;

              (iii)     a greenhouse gas assessment permit—

the petroleum retention lessee may apply to the Minister for the grant of a greenhouse gas holding lease over the block or blocks to which the identified greenhouse gas storage formation extends.

S. 357(1B) inserted by No. 26/2021 s. 28.

    (1B)     If—

        (a)     2 or more identified greenhouse gas storage formations, when considered together, extend to only one block in the lease area; and

        (b)     a vertical line would not pass through a point in each of those identified greenhouse gas storage formations; and

        (c)         none of the following is in force over the block to which the identified greenhouse gas storage formations, when considered together, extend—

              (i)     a greenhouse gas injection licence;

              (ii)     a greenhouse gas holding lease;

              (iii)     a greenhouse gas assessment permit—

the petroleum retention lessee may apply to the Minister for the grant of a greenhouse gas holding lease over the block to which the identified greenhouse gas storage formations, when considered together, extend.

S. 357(1C) inserted by No. 26/2021 s. 28.

    (1C)     If—

        (a)     2 or more identified greenhouse gas storage formations, when considered together, extend to—

              (i)     only one block in the lease area; or

              (ii)     2 or more blocks in the lease area; and

        (b)     a vertical line would pass through a point in each of those identified greenhouse gas storage formations; and

        (c)     none of the following is in force over the block or blocks to which the identified greenhouse gas storage formations, when considered together, extend—

              (i)     a greenhouse gas injection licence;

              (ii)     a greenhouse gas holding lease;

              (iii)     a greenhouse gas assessment permit—

the petroleum retention lessee may apply to the Minister for the grant of a greenhouse gas holding lease over the block or blocks to which the identified greenhouse gas storage formations, when considered together, extend.

S. 357(1D) inserted by No. 26/2021 s. 28.

    (1D)     If—

        (a)     2 or more identified greenhouse gas storage formations, when considered together, extend to 2 or more blocks in the lease area; and

        (b)     a vertical line would not pass through a point in each of those identified greenhouse gas storage formations; and

        (c)     for each identified greenhouse gas storage formation, at least one of the blocks to which the identified greenhouse gas storage formation extends immediately adjoins a block to which the other, or another, of those identified greenhouse gas storage formations extends; and

        (d)     none of the following is in force over the blocks to which the identified greenhouse gas storage formations, when considered together, extend—

              (i)     a greenhouse gas injection licence;

              (ii)     a greenhouse gas holding lease;

              (iii)     a greenhouse gas assessment permit—

the petroleum retention lessee may apply to the Minister for the grant of a greenhouse gas holding lease over the blocks to which the identified greenhouse gas storage formations, when considered together, extend.

S. 357(1E) inserted by No. 26/2021 s. 28.

    (1E)     For the purposes of subsection (1D), a block immediately adjoins another block if the graticular section that constitutes or includes that block and the graticular section that constitutes or includes that other block—

        (a)     have a side in common; or

        (b)     are joined together at one point only.

    (2)     An application under this section must be accompanied by such information (if any) as is specified in the regulations.

Notes

1     Part 3.8 contains additional provisions about application procedures.

2     Section 459 requires the application to be accompanied by an application fee.

3     Section 461 enables the Minister to require the applicant to give further information.